Some fear the standoff with the Troika - the International Monetary Fund, the European Central Bank and the European Commission - could derail the Greek recovery and spread to other countries re-igniting the eurozone crisis. Whether smooth sailing or a rocky ride, the voyage will be memorable. Lifejackets at the ready.

I am not opposed to turning on the money printing presses. But I am if the result is a boom to be followed by a bust with a few benefitting enormously at cost to many in the meantime. This is the time for QE, but Green QE is what we need and is not what we're getting.

Mario Draghi reminded everyone gathered in Frankfurt and listening in around the world that it is not the ECB's decision as to whether to go ahead with asset purchases. Firstly, Eurogroup leaders would have to vote on it.

Much like sporting events can be histrionically promoted as 'crunch matches', 'the day of reckoning' or similar, recent meetings of the world's central banks have often been given a similar billing. However, it's safe to say that the impact of these economic planning meetings lasts longer than any bangs and scrapes picked up in a 90 minute kick about.

Just another brick in the wall. In what is a potentially vital piece of the jigsaw in the project to keep the Euro afloat, the ECB had a mission: design a bank asset quality review that was just tough enough to gain credibility, but not too tough, for fear of scaring the horses and inducing queues of depositors to form outside banks when the results come out.

In dramatic breaks with history, Mark Carney and Mario Draghi persuaded the Bank of England Monetary Policy Committee (BOE) and the European Central Bank Governing Council (ECB), respectively, to issue what amounted to forward guidance on the path of future monetary policy, without having to actually formally announce they had done so.

If we expect Europe's central bankers to find solutions to the increasingly desperate problems facing the eurozone, then they must be allowed to do so. Nagging fears that they are simply making it up as they go along must be pushed to the back of our minds.

Countries which lost competitiveness during the first decade of the Economic and Monetary Union (EMU) will need to return to sustainable growth through improvements in competitiveness rather than cheap credit. This will take time but will be necessary for the long-term survival of EMU.

Perhaps this cartoon is jumping the gun a little, or maybe it's a glimpse into the future; but in any case here's my cartoon showing Super Mario Draghi taking some drastic long term refinancing action!

Rarely has an election resonated so widely across the European Union as the French presidential ballot has done. Rarely has a leadership change in one EU member state created expectations of a real policy shift.

The big eurozone has worked well for Germany. It has given the country an artificially low value for its currency which has allowed its exports to prosper. The reverse is of course true for countries like Italy and Spain.